He made a brief appearance at a committee meeting in the Mount Errigal Hotel at the weekend where he made his decision known.
He was not asked to reconsider his decision by any member of the committee.
He intends remaining as a member of the committee.
Mr. Blaney apologised to the committee for the embarrassment he caused on the night of the Sports Stars Gala Banquet which he was scheduled to host as Chairperson.
He notified the committee about his non-attendance by text message only an hour before the banquet was scheduled to start.
It later emerged that he had also decided not to defend his seat in Donegal North East for personal reasons.